Mayor Shin Sangjin Vows "Not a Single Won Will Be Hidden"... Accelerates Provisional Seizure of 567.3 Billion Won in Daejang-dong Criminal Proceeds

Seongnam City in Gyeonggi Province is making every legal effort to recover damages suffered by citizens due to the Daejang-dong development corruption case and to reclaim criminal proceeds that were unlawfully acquired.

Seongnam Mayor Shin Sangjin held a press briefing on the 9th and stated, "We have filed a provisional seizure request for assets totaling approximately 567.365 billion won, which is 121.6 billion won more than the amount requested by the prosecution, targeting four members involved in the Daejang-dong case." Photo by Lee Jonggu

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On December 9, Seongnam Mayor Shin Sangjin held an interim briefing on the provisional seizure application related to the Daejang-dong development and announced that the city had filed for provisional seizure of assets totaling approximately 567.365 billion won, which is 121.6 billion won more than the amount requested by the prosecution, targeting four members involved in the Daejang-dong case.

The amount provisionally seized by Seongnam City is significantly higher than the prosecution's request for preservation of forfeiture (approximately 445.69 billion won). This increase is due to the addition of damages related to apartment sales profits by Kim Manbae and Hwacheon Daeyu. Seongnam City has demonstrated a strong commitment to reclaiming every single won.

On December 1, Seongnam City filed a batch application for provisional seizure on a total of 14 assets across 14 cases, including two provisional injunctions to prohibit the disposal of real estate. To date, the court has issued orders to provide security for seven of these cases.

Mayor Shin Sangjin explained, "The court's prompt decision to order the provision of security indicates substantial recognition of the provisional seizure application and suggests a high likelihood that the application will be accepted." The city plans to swiftly complete the procedures for the seven court-ordered security provisions to ensure they take effect in practice.

All three applications against Jung Younghak, totaling approximately 64.69 billion won, have been granted security orders.

For Nam Wook, orders were issued for provisional seizure of five bank accounts under the name of NSJ Holdings, totaling 30 billion won, as well as for a provisional injunction prohibiting the disposal of real estate in Jeju Island.

Regarding Kim Manbae, the court issued correction orders for three out of the provisional seizure applications totaling 420 billion won (related to Hwacheon Daeyu, Cheonhwadongin No. 2, and The Spring). The court requested that Seongnam City provide more detailed explanations regarding the relationship between Kim Manbae and these entities, and the city plans to submit the supplementary documents by the 10th.

Meanwhile, the 'lawsuit to confirm the nullification of the dividend resolution' filed by Seongnam-ui Tteul, the Daejang-dong project operator, which was scheduled to be heard at the Seongnam Branch Court on the afternoon of December 9, was postponed by the court's own authority to March 10, 2026.

Seongnam Mayor Shin Sangjin held a press briefing on the 9th and stated, "We have filed a provisional seizure request for assets totaling approximately 567.365 billion won, which is 121.6 billion won more than the amount requested by the prosecution, targeting four members involved in the Daejang-dong case." Photo by Lee Jonggu

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This civil lawsuit could play a decisive role in invalidating the distribution of profits by the Daejang-dong group and reclaiming criminal proceeds. With the prosecution having dropped its appeal in the Daejang-dong case, the importance of the civil trial has grown considerably. Seongnam City expressed deep regret that the hearing was delayed by three months without clear justification and voiced concerns about the fairness of the proceedings.

Mayor Shin Sangjin concluded, "We will make every effort to recover even a single won acquired through the Daejang-dong crime and to restore justice," calling for continued interest and support from the citizens.

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